Antigua and Barbuda govt reduces fuel prices, 55 cents for gasoline, 25 cents for Diesel

Giving relief to the general public, Antigua and Barbuda government announced a reduction in fuel prices on Thursday. The new prices will take effect from April 22, 2022, from 12 am onwards. The prices are reduced by 55 cents for gasoline and 27 cents for Diesel.

A gallon of gasoline will now cost $15.15, down 55 cents from $15.70, while diesel prices will fall by 27 cents to $15.23.

The West Indies Oil Company stated there was a reduction in the cost of the most recent shipment of refined petroleum products, and the government has taken the decision to pass on this reduction to motorists.

Just a month ago, many people protested against the sudden increase in fuel prices in Antigua and Barbuda. Following the recent hike in prices on 14 March, 2022, the government had ensured that there will not be any more hikes.

Following the Russia and Ukraine war, global fuel prices skyrocketed. Energy prices have been marked by volatility in the wake of Russia’s invasion of Ukraine and the resultant shockwaves to the global energy market. The corollary price movements in fuel and food have stoked heightened inflationary pressures around the world.

In the recent months after the Russia-Ukraine war, the global prices of petrol and Diesel increased, starting an outcry against inflation. The Caribbean countries are also facing a sudden increase in prices of not only fuel but also food products and other commodities of daily use.